Twilio Inc. Goldman Sachs Communacopia + Technology Conference 2026

Up for you. This one?

It's a pretty big one.

Yeah. It's not usually this big.

I think it is all of those things. I think our bread and butter is the channels, right?

Yeah. Connecting our customers to the end consumer.

We are increasingly trying to make those communications more valuable. I will let Inbal talk about it, or I am sure you will get to it, but we have launched a suite of Conversation products, from Conversation Memory to Conversation Orchestrator to Conversation Intelligence, in the last six months or so, and that is where we kind of see the future going in terms of agentic as well as human communication.

I think the uniqueness for Twilio is, if you think about Twilio as three layers, we have all the communication channels or where the conversation is happening, and then you have the contextual layer, which is the data. Then you make the AI agents that are operating across all these channels with the context layer so much better, more effective, more productive, more accurate, which is what you are trying to achieve. It kind of operates, as Aidan said, across all of them.

Yeah, I think we've actually done that pretty well. As growth has re-accelerated, if you think about 2024, 2025 into 2026, we've been quite disciplined on cost. We're flat to down in 2023 and/or 2024 and 2025. We're up a little bit this year as we launch some new products. But I think we've run the company differently, right? I think with Khozema, who's our CEO, since both of us kind of took our roles, we've really introduced a lot of financial discipline and operating rigor into how we run the company. I'd say how that manifests itself in innovation and investments on the R&D side, I'd say if you look back over a couple of years ago, I'd say we just tried to invest in too many different things, right? We tried to place a lot of bets in different areas. We're much more focused now.

We're much more focused on platform efficiency to help us drive innovation velocity. Inbal's actually been the person driving that for all of us, and we're very ROI-focused. I'm fortunate in that I have a CEO that has a very strong financial background, right? So he's very ROI-focused as well. I think a great example of that in terms of an area where we've invested recently is our self-serve platform. Twilio has always been developer first PLG. The reality of it is we let that process get too complicated for our customers over time, and so over the last couple of years, we've really undertaken an effort in product and engineering and go to market to simplify that experience.

Most recently, we launched what we call Twilio Console, which we can get into, which makes it even easier for customers to come in and adopt multiple products on Twilio. So that's one example where the return was just obvious, right? And we put a lot of investment behind it. Maybe just on your last point around different financial profiles, what I would say is, from a pricing model perspective, all of our products are usage-based, for the most part. So in that sense, they're very similar. Where I'd say they're actually different is in the gross margin profile. So aside from messaging, most of our products are quite high margin. I think this new conversations layer that we just launched, I'd put in more of the high margin bucket.